Competing Concepts of Income and the Double Taxation of Saving

Arthur Hall

No 50926, Technical Reports from Brandmeyer Center for Applied Economics, School of Business, University of Kansas

Abstract: This report explains how the definition of income adopted for the income tax system in the United States (at both the federal and state levels) imposes an inherent double tax on the process of saving, which impedes economic growth and development. Policy makers can eliminate the growth impediment and simultaneously simplify the administration of income tax systems by adopting an alternate economic definition of income.

Pages: 41 pages
Date: 2005-09-26
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